The information provided on this website does not, and is not intended to, act as legal, financial or credit advice; instead, it is for general informational purposes only. Information on this website may not be current. This website may contain links to other third-party websites. Such links are only for the convenience of the reader, user or browser; we do not recommend or endorse the contents of any third-party sites. Readers of this website should contact their attorney, accountant or credit counselor to obtain advice with respect to their particular situation. No reader, user, or browser of this site should act or not act on the basis of information on this site. Always seek personal legal, financial or credit advice for your relevant jurisdiction. Only your individual attorney or advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this website or any of the links or resources contained within the site do not create an attorney-client or fiduciary relationship between the reader, user, or browser and website owner, authors, contributors, contributing firms, or their respective employers.
Credit.com receives compensation for the financial products and services advertised on this site if our users apply for and sign up for any of them. Compensation is not a factor in the substantive evaluation of any product.
AT&T is cutting its plans for financing a new mobile phone in half, giving customers just two options when it comes to buying a new phone without plunking down a wad of cash all at once.
In a nutshell, the plans boil the decision-making process down to two questions: Do you want a lower monthly payment or would you prefer a quicker upgrade? If you’re torn already, it might be a good time to review your budget and see what fits with your finances.
Starting June 9, AT&T will offer AT&T Next Every Year, which allows customers to upgrade to a new device every year, with a 24-month financing term. The second option available beginning on the same date is the AT&T Next plan, which allows customers to upgrade every two years with a 30-month financing term.
AT&T offered the following cost comparison between the two financing plans:
AT&T Next: $749.99 retail price phone is $0 down and $25/month, or $225 down and $17.50/month
AT&T Next Every Year: $749.99 retail price phone $0 down and $31.25/month, or $225 down and $21.88/month.
The new plans also allow customers to trade in any device they own and apply the value toward a new device or make a down payment toward a new device at the time of purchasing the plan.
Here’s how it works, per AT&T’s press release.
AT&T Next Every Year
AT&T Next
Both plans are available for well-qualified buyers, meaning you’re going to need a good credit score to get these financing plans. If you don’t have good credit, it’s going to cost you more up front — customers who don’t meet AT&T’s “well qualified” standards will be required to make a 30% down payment.
If you’re not sure where your credit stands, you can check out two of your credit scores for free on Credit.com before applying and potentially being rejected. If your credit is in rough shape, you may be able to improve your score by disputing errors on your credit report, paying down high credit card balances and limiting new credit inquiries while your score rebounds.
Image: BraunS
March 11, 2021
Personal Finance
March 1, 2021
Personal Finance
February 18, 2021
Personal Finance